Rhumbline Advisers increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,013 shares of the company’s stock after purchasing an additional 2,884 shares during the quarter. Rhumbline Advisers owned 0.16% of Mohawk Industries worth $29,209,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sun Life Financial INC lifted its holdings in shares of Mohawk Industries by 5,675.0% during the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after purchasing an additional 454 shares during the period. First Personal Financial Services lifted its holdings in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after purchasing an additional 35 shares during the period. IFP Advisors Inc lifted its holdings in shares of Mohawk Industries by 18.6% during the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after purchasing an additional 98 shares during the period. First Manhattan Co. acquired a new stake in shares of Mohawk Industries during the second quarter worth $160,000. Finally, Bridgewater Wealth & Financial Management LLC acquired a new stake in shares of Mohawk Industries during the second quarter worth $203,000. 76.19% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a report on Sunday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. J P Morgan Chase & Co increased their price target on Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Barclays PLC increased their price target on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $281.42.
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Shares of Mohawk Industries, Inc. (NYSE MHK) opened at $272.20 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $272.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $19,860.00, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.42 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business posted $3.50 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. equities research analysts expect that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now owns 21,396 shares in the company, valued at $5,454,910.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 17.00% of the company’s stock.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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